Croda’s turnover passes the £1bn mark for the first time
Chemical company reports record profits for 2010
Specialty chemicals company Croda has announced that turnover for 2010 went past the £1bn mark for the first time as it reached £1.001bn, as sales grew by an impressive 21% on 2009’s figure of £827.5m.
Pre-tax profits increased by a massive 78.1% to £192.3m while continuing earnings per share were up by a similarly impressive 77.3% to 95.4p.
Demand was strong in all business areas within both sectors and across all major geographical locations – Latin America, Asia and Africa accounted for 32.4% of the group’s turnover across the year and that did not include ingredients sold in Europe and in the US, according to the company.
In the fourth quarter of 2010, sales were also up by 13.1% to make £237.4m in what made a strong close to the year – with both the consumer care and industrial specialities divisions seeing similar growth turnover growth.
